NY state approves health exchange insurance rates

ALBANY, N.Y. -- Officials have approved health insurance rates for 17 insurers planning to offer coverage next year through New York's new Health Benefit Exchange, part of the federal overhaul expected to bring coverage to 1.1 million uninsured statewide. Under the federal mandate intended to expand coverage nationally, people getting insurance through the exchange and who meet certain income thresholds can tap into an estimated $2.6 billion in federal tax credits and subsidies annually in New York. The state Department of Financial Services, which approved the rates, said Wednesday that the list includes eight providers that don't currently offer commercial health insurance plans.